Blockchain groups sue to block Illinois digital asset tax
Two industry groups, the Blockchain Association and the Crypto Council for Innovation, filed a complaint on Aug. 21 in Sangamon County seeking a declaration that the Digital Asset Tax Act is invalid and asking for preliminary and permanent injunctions. They named state revenue and law officials as defendants and alleged federal preemption, commerce clause and due process violations, and Illinois constitutional issues on tax uniformity and delegation. A separate challenge from the Digital Chamber was filed earlier. The law would tax covered digital asset business activity at 0.2% of asset value and require brokers to collect it, but the January 2027 start date remains in effect unless a court stops enforcement.
Illinois digital asset tax stands to take effect Jan. 1, 2027
Context
Illinois passed a digital asset tax that taxes covered broker activity at 0.2% of asset value. Industry groups filed lawsuits in Sangamon County to block the law. A court could issue an injunction or let the law take effect on Jan. 1, 2027.
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